1. Technical Field
Embodiments of the present invention generally relate to data processing and the technical field of managing and valuating inventory. More particularly, embodiments of the present invention relate to computer systems, computer program products and computer-implemented methods for monitoring a physical inventory throughout a working or production process to allow a manufacturer to valuate a stock of goods in the working process.
2. Background Information
Traditionally, a manufacturer uses manpower to maintain and manage inventory control of both raw materials and finished products. There already exist computer systems and computer program solutions that assist in collecting and evaluating data as to raw material kept in stock and finished or end products (or work result) kept in stock. As can be appreciated easily, existing methods are limited to any material or goods or products kept in stock, resulting in the fact that only actual quantities of stock can be considered.
However, there is always a certain quantity of unfinished goods somewhere in the working (or production) process line which are never considered when valuating the assets. Obviously, this is a drawback for economical and legal reasons as the valuation only reflects part of the whole picture as an asset or item which is taken into account in the raw material stock disappears from that stock only to reappear in the stock of finished goods, but only after a certain time. During that time, the given item is basically non-existent and does not contribute to the calculation of the overall value in the value creation chain.